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What explains why technological change rather than physical and human capital accumulation is the cause of sustained growth? Group of answer choices Technological change is
What explains why technological change rather than physical and human capital accumulation is the cause of sustained growth? Group of answer choices Technological change is an exponential process, building on past knowledge in constant proportion which means that new technology can continue to create growth even at high income levels. Technological change is easier to accomplish for countries than rapid physical or human capital accumulation. Technological change, unlike physical capital accumulation, does not require savings from households for investment. Physical and human capital have increasing returns
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